Travel & leisure industry

The world’s most influential travel brand, Travel + Leisure offers insider access to destinations around the globe with a signature mix of smart advice, immersive photography, and expert reporting on hotels, food, design, style, culture, and trends. Last decade experienced an exponential growth in outbound travelers with the number of international travelers across the globe crossing over 1.4 billion departures in 2018. A major share of departures are from emerging countries travelling for the very first time, spending billions of dollars, and augmenting the growth of the travel economy. Leisure travel market industry is projected to outpace global GDP growth and is estimated to grow with a significant CAGR during the forecast period. The phenomenon is different from digital nomads, who travel permanently while working online.

A subsidiary of Browns Investments PLC, Ceylon Roots is mostly concerned with the creation and facilitation of experiential travel in the island, which brings the discerning traveler face to face with curated Sri Lankan lifestyle focused experiences. A fully-fledged professional destination management company,Ceylon Roots offers comprehensive packages for both inbound and outbound travel services, including several specialised departments for ticketing. The company also handles the European market alongside a vast network of representatives in the travel, tourism and hospitality industries in Singapore, China, Maldives, India, North America, Australia, Italy, and the Middle East.

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• While $12.5 billion in timeshare upselling may seem like a stretch, analysts don’t think it is outside the realm of possibility.
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• Find out what this means for companies and how they currently deal with this development.

First sales in the timeshare orbit are typically low in margin due to all the accompanying sales incentives. The second and third sales or upgrades are where the profit margins really begin to kick in. That upgrade food chain can even chart a path to billions of dollars in untapped sales.

The Caribbean, the Bahamas, and Bermuda were the most popular destinations, welcoming about 12 million cruise travelers. This scenario changed drastically in 2020 as the pandemic disrupted the cruise market. For instance, TUI AG’s global revenue from the cruises segment roughly halved in 2020 over the previous year. As the volume of corporate travel continues to increase, so does the number of people looking to capitalize on the opportunity of being abroad to enjoy a vacation before or after their work takes place. To tackle some issues, the company is shifting business strategies, opting to go with the popular subscription model. This includes the various Wyndham Destinations Clubs, Travel + Leisure Club, and Travel + Leisure Go.

Ketchum Travel, Hospitality & Leisure in the News

Just steps beyond your private deck, the white-sand beach dissolves into the clear Caribbean Sea. In addition to offering an ideal location to experience the sea, Turtle Inn is located a short bicycle ride or walk from the charming sea-front fishing village of Placencia. Turneffe Island Resort, which has occupied its own island in the Turneffe Atoll east of Belize City for nearly two decades , does tranquility seamlessly. Since then, it has become a stalwart in a country that everyone has been talking about lately, thanks to a wave of new openings. The 14-acre private island that the hotel sits on was formed centuries ago, when a volcanic peak sank to the seafloor, leaving a crown of a coral reef ringing its perimeter.

Also, the brand continues to offer yearly award rankings of the top hotels, destinations, and regions of the world. The publication is often rated as the top quality name in the industry and has earned plenty of fans the world over. Altogether, if travel popularity increases to levels seen prior to the pandemic, T+L is set to grow with the market. On the other hand, timeshares are a different story as their financial viability and popularity wanes over time, especially with steep competition from vacation rentals and traditional hotel/motel.

TRAVEL + LEISURE™ is an indispensable guide to where to stay, what to eat, and what to do around the globe. Every month, TRAVEL + LEISURE™ puts easy trip ideas, itineraries, and insider information right at your fingertips. Get advice from our travel experts and view the magazine’s award-winning photography.

Revenue of Booking Holdings – which, among others, owns websites such as Booking.com, Priceline.com, Agoda.com, and Kayak.com – peaked at over 15 billion U.S. dollars in 2019. In that year, revenue of the Expedia Group reached over 12 billion U.S. dollars. Alongside from the Expedia site, the company owns Hotels.com, Vrbo, Trivago, and other travel fare aggregators and metasearch engines. The number of global ocean cruise passengers has risen gradually since 2009, peaking at nearly 30 million in 2019.

Recent years have witnessed a paradigm shift toward experience rather than goods. Spending on consumer durables, apparels have faltered while, experiential spending on recreation, travel, and eating have seen rapid growth. The trend is in sync with growing number of global outbound tourists in the last few years. The robust growth is expected to continue in the estimated future, driven primarily by the expansion of low cost airlines, government initiatives, and technological advancements. For some airlines, the rise of remote working, online conferences, and pandemic-era restrictions wiped out nearly 75% of their income.